Foreign Exchange Bureau: China's foreign exchange market is generally stable and foreign exchange supply and demand are basically balanced

China News Service, April 7th, according to the State Administration of Foreign Exchange website, Wang Chunying, spokesperson and chief economist of the State Administration of Foreign Exchange, said in a reporter's question about changes in the size of foreign exchange reserves in March 2020, China's foreign exchange market is generally stable , Foreign exchange supply and demand maintain a basic balance.

The reporter asked what was the reason for the change in the scale of foreign exchange reserves in March 2020? What is the future trend of foreign exchange reserves?

In this regard, Wang Chunying revealed that as of the end of March 2020, China's foreign exchange reserves were 30.606 trillion US dollars, a decrease of 47.3 billion US dollars from the beginning of the year, a decrease of 1.5%.

Wang Chunying said that in March, the international financial market fluctuated substantially due to factors such as the accelerated spread of the new coronary pneumonia epidemic worldwide and the sharp drop in international crude oil prices. The US dollar index strengthened, some non-US dollar currencies fell against the US dollar, and asset prices in major countries adjusted sharply. China's foreign exchange market is generally stable, and the supply and demand of foreign exchange remain basically balanced. Under the combined effects of exchange rate conversion and changes in asset prices, the scale of foreign exchange reserves has declined.

Wang Chunying pointed out that due to the impact of the new coronary pneumonia epidemic, geopolitics and other factors, the growth of the world economy and trade will be seriously affected, and the turmoil in the international financial market will increase. "With China's overall efforts to promote epidemic prevention and control and economic and social development, positive results have been achieved. The resumption of production and production of enterprises has accelerated significantly. The domestic real economy is gradually recovering and improving. The long-term development trend of the Chinese economy will not change and will continue to be The reserve scale is generally stable and provides support. "